Review of Credible Loan

Credible Loan Review

Being an online marketplace where you can lend and borrow effectively and faster. Filling one form can connect you with various lenders. From student loans to mortgage, Credible Loan is your one-stop solution for hassle-free lending. You can compare various options quickly, and the best part is, it does not charge you for that. What more could we ask for?  There are various points to understand before using the platform to borrow. This review shall give you the complete insight.

Terms and Fees of Credible Loan

  • APR:  3.99% – 35.99%
  • Loan Amount Range: $1,000 – $100,000 (based on your credit score)
  • Interest Rate Type: Fixed
  • Repayment Term: 2 to 7 years

Eligibility Requirements of Credible Loan

There are always certain eligibility conditions that you need to fulfill to lend money through this online marketplace dedicated to lending.

    • Firstly, it is important to have a US Citizenship or be a permanent resident and important to have a social security number.
    • You are required to be above 18 years of age.
  • It is also important to have a good credit score to brighten your chances of receiving the loan.

Credible Loan Application Process

  • The first step is to fill a form once you open Credible Loan website. To get the complete access to the online marketplace, you also need to log in or sign up if new.
  • You have to answer certain questions in the application form available on the website. The initial questions are of information on how much money you need and how you will be using it. Moreover, you need to fill your personal information, your social security number and various other personal details.
  • You will further receive the details of the lenders that you particularly prequalify with based on your personal information.
  • You will then add further information based on the lender requirements.
  • You can have a hard check on your loan. Thus, it can affect your FICO score as well.
  • Once all the formalities are completed, you will receive your loan. It can even happen in a single business day.

Pros and Cons of Credible Loan


  • Hassle Free Form Filling: The first and best part is that you do not have to fill individual forms for each lender. It is so easy, just fill one form and let Credible Loan do the work for you to get the best on your platter.
  • Time Saver and Cost Saver: Credible Loan does not take any charge from you for its services. Hence everything is free, even the comparing. This saves both your time and hard-earned money.
  • Timely Funding: Need urgent loan and cannot find a way out? Head here. You can also get your loan processed in a single business day. This is not even your dream.


  • Credible Loan is not directly providing you the loan but is connecting you to the third party lenders. This can be a problem. If you have an issue and want to speak to the lender directly, they will first direct you to Credible Loan.
  • There can be a hidden fee that you have to pay for your loan. This can be either origination fee or processing fee as well. The fees consider the hidden origination fees and other similar fees not disclosed at the time of applying for the loan but as you keep proceeding with the loan process, all that is hidden start coming into the picture.
  • The period of the loan can be restricting for people looking for long-term loans. The period for loans on this website is 2 to 7 years.
  • For an online lending marketplace, the network of lenders is of utmost importance. The greater the network of lenders, the better options you have and higher chances for receiving an approval for your loan. Unfortunately, as of now, Credible Loan does not have a great network of lenders, and even some of the main players in the market are missing from the network.